Seoul: South Korea’s exports extended on-year gains to the 14th straight month in November, data showed Sunday, on the back of the strong performance of chips.
Outbound shipments rose from a year earlier to $56.3bn last month, according to the data compiled by the Ministry of Trade, Industry and Energy, reported by Yonhap News Agency.
Imports shed 2.4% on-year to $50.7bn, resulting in a trade surplus of $5.61bn. South Korea has been maintaining a trade surplus for 18 consecutive months.
By sector, exports of semiconductors shot up 30.8% to hit $12.5bn last month, marking the highest amount for any November.
It was also the fourth consecutive month the country has set a new monthly high for chip exports.
The biohealth sector logged 19.6% on-year growth to $1.4bn, maintaining growth for five straight months. Exports of ships spiked 70.8% on-year to $2.5bn.
The ministry added that weather conditions also hindered shipments of automobiles late last month.
Exports of petroleum and petrochemical products dipped 18.7% and 5.6%, respectively, due to falling crude prices.
